HAR §15-165-19. Mortgage servicing

The corporation may enter into a master mortgage servicing agreement with one mortgage servicer or into several mortgage servicing agreements with several mortgage servicers to service some or all of the eligible loans for the corporation. The procedural guide will contain guidehines for the servicing of eligible loans. [ Eff CT 2 ~ 1000 ] (Auth: HRS §201G-4, 201G-243) (Imp: HRS §~O't'G"~44) SlS-165-20 Falsification of application. Each loan applicant shall state in an application for a mortgage loan that the application is complete and accurate and does not contain any untrue statements of material facts nor omit to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, with respect to the loan applicant•s eligibility and creditworthiness for an eligible loan. The application shall be verified. Persons who submit applications for a mortgage loan shall be subject to the criminal sanctions of the Hawaii penal code, part V, section 710-1063, HRS, for falsify~fW. material disclosure in the application. [ Eff Ul, l 5 1999 ] (Auth: HRS §201G-4, 201G-243) (Imp: HRS §201G-244) 165-13 2237, .... §15-165-31 SUBCHAPTER 4 TAXABLE MORTGAGE SECURITIES; HOUSING PROJECT LOAN PROGRAM SlS-165-31 Purpose. The purpose of this program is to provide eligible project loans to qualified sponsors by directly making or by contrA5=+-iLIW with eligible project loan servicers. [Eff Utll ~5199Q (Auth: HRS §201G-4, 201G-243) (Imp: HRS §201G-242) SlS-165-32 Definitions. As used in this subchapter and the procedural guide: .. Commitment letter 11 means the corporation 1 s notice to a qualified sponsor of the acceptance of the eligible project loan application subject to the acceptance and conditions of the eligible project loan servicing agreement, if applicable. "Eligible project loan application" means an application from a qualified sponsor, in such form as prescribed by the corporation, requesting an eligible project loan. 0 Eligible project loan servicer 11 means a mortgage lender or its designee as approved by the corporation which has executed an eligible project loan servicing agreement. 0 Eligible project loan servicing agreement" means an agreement among a qualified sponsor, an eligible project loan servicer, and the corporation in a form as prescribed by the corporation to fund and service or service an eligible project loan. "Eligible project loan servicing agreement application .. means an application from an eligible project loan servicer, in such form as prescribed by the corporation, requesting a contract with the corporation and qualified sponsor to fund and service or service an eligible project loan to a qualified sponsor. (Eff Q~T 2 5 10Q9 ] (Auth: HRS §201G-4, 201G-243) (Imp: '1:rRs s2or~-244)